Category: Newswire

Lamborghini Pulls Into Sight of Ferrari With $11 Billion Value

For decades, Lamborghini has been known for brash supercars that combine brute power and daring design, like the classic Miura or the edgy Countach. Now the Italian company’s successful push into more comfortable sport utility vehicles has helped boost its valuation to $11 billion, making it a viable initial public offering candidate for owner Volkswagen AG, according to Bloomberg Intelligence analysts.

Porsche invests 2 mln USD in Israeli AI tech to improve visibility in poor weather

JERUSALEM, Aug. 21 (Xinhua) — German luxury auto manufacturer Porsche has invested 2 million U.S. dollars in the Israeli startup TriEye, which has developed visibility enhancement technology in harsh weather conditions, the two companies said on Wednesday.
TriEye, founded in 2017 and headquartered in the coastal city of Tel Aviv, has developed an artificial intelligence (AI) sensor technology for short-wave infrared (SWIR).
It enhances safety in vehicles fitted with assistance systems or autonomous driving functions by improving the ability to see in weather conditions where visibility is poor, such as rain, fog, dust or murky conditions.
The Israeli company's unique semi-conductor design uses patent-pending technology that makes it possible to manufacture SWIR HD cameras at a fraction of their current cost. These SWIR cameras are expected to reach the market by 2020.
The Israeli solution is based on nearly a decade of advanced nanophotonics research, performed by Uriel Levy, Tri..

Mercedes-Benz Korea expands logistics center

Mercedes-Benz Korea, a local importer and distributor of German luxury cars, has expanded its logistics center in Anseong, Gyeonggi Province, 150 kilometers south of Seoul, the company said Wednesday.Participants attend a ceremony marking the new logistics center for Mercedes-Benz Korea.An automated forklift truck moves parts to an 11.5-meter-high storage shelf in a very narrow aisle.

FAW-Volkswagen opens new proving ground in Northeast China

Sino-German joint venture FAW-Volkswagen has put its new proving ground into use in the north of Changchun, capital of Northeast China’s Jilin province.With an investment of more than 1.7 billion yuan ($240.6 million), the first-stage project of the proving ground covers 6 square kilometers.The proving ground has five functional areas for durability, airbag effectiveness, highspeed loop, dynamic and performance testing.

Audi, Volkswagen, Porsche caught rigging emissions again

By Nam Hyun-woo Audi Volkswagen Korea and Porsche Korea will face criminal charges and hefty fines as the companies were found to have engaged in emission rigging involving their eight top selling models.AdBlue is an exhaust fluid comprised of urea and water that is injected into the car’s exhaust system to reduce the amount of nitrogen oxide emissions.The ministry’s move is expected to deal an additional blow to Audi Volkswagen Korea’s sales.

Hyundai Motor invests 78 bln won on foreign startups in H1

Hyundai Motor Co., South Korea’s leading automaker, said Tuesday it invested 78 billion won (US$64 million) in overseas startups with future vehicle technologies in the first six months of the year.The six companies are the Israeli voice search platform Audioburst, the U.S. robot startup Realtime Robotics, the U.S. autonomous driving startup Aurora Innovation Inc., the Chinese startup DeepGlint with facial recognition technology, Hong Kong’s action camera firm Funshare and French digital olfactory startup Aryballe Technologies.